Everybody knows that competition is fierce for top talent, especially in industries such as life sciences, financial services, and IT. If you don’t have a strong recruiting strategy in place – one that you implement consistently – your company cannot hope to attract or retain the high quality personnel you need to grow and thrive.
So, what does a successful recruiting strategy look like? At Power-4, we believe there are six essential elements that come together to bring you the right expertise and the right people.
1. Know Your Market
Effective recruiting starts with understanding the marketplace for the role(s) you are looking to fill – the competitive landscape, compensation data, current supply and demand for the role, etc. How do you properly classify jobs? What are candidates looking for? It’s not easy keeping up with the latest trends and nuances in a rapidly-shifting environment, and the details change from one role to another.
Partnering with Power-4 solves this problem. Our expert team works as an extension of your team for an extended period of time, bringing deep market insight and resources to bear to achieve your recruiting goals.
2. Clearly Define Your Value Proposition
Chances are good that other firms (perhaps your direct competitors) are looking for the same skill sets as you are -- going after the same candidates. You must give those candidates a clear reason to choose you as their next employer. What makes your company different?
Keep in mind that today’s most desirable candidates are looking for more than money. Salaries do matter, but quality employees expect a quality workplace. They’re looking for meaningful work, relevant benefits, flexibility, opportunities to grow, and an engaging culture that is positive and inclusive. How these elements come together within your company defines your unique “workplace brand.”
3. Target Both Active and Passive Candidates
Active candidates are applicants that respond to job postings because they are currently looking. That’s a very limited pool. Most likely your next great hire is currently employed and not actively looking. That said, they may be open to a move up or even a lateral move, if the opportunity piques their interest. These are passive candidates, and to successfully recruit them you must proactively reach out and engage them and then sell your value proposition.
Establishing and nourishing relationships with passive candidates is complex and time-consuming. It’s personal as well as professional because not every candidate is a good fit for every position, even if they possess the necessary skills. Partnering with Power-4 puts our broad, deep pool of top talent within your reach.
4. Create an Efficient System
Everyone benefits when you have a clear, streamlined interview process that moves things along quickly once the candidates are engaged. An efficient system shows candidates you are serious about filling the position, and it enables you to get the right person in place sooner. An efficient process can mean the difference between landing a prime passive candidate and missing out.
Once that great candidate agrees to talk, even if they aren’t ready to formally apply, you must prioritize the conversation to underscore your interest. Internal team members must be ready with open calendars, to meet the candidate’s availability. Interviews should be progressive, with a different focus for each one, because redundant questions waste the candidate’s time (and yours) and give the impression your company is disorganized or, perhaps, not serious about the candidate.
5. Be Prepared to Make a Decision
Schedule feedback sessions with your interview teams and be committed to taking the next steps quickly. You have the candidate’s interest. If the interview went well, the last thing you want is to lose that candidate to some other employer. That’s a serious risk, though, and if indecision drags out the process at this point, the candidate will believe you have lost interest.
6. Provide a Great Candidate Experience
Top candidates have choices, and they know it. If they have a consistently great experience throughout your recruiting and interviewing process, that can tip the scales in your favor. You have impressed them as much as they impressed you.
Every candidate, hired or not, should come away from their recruiting and interview process with a favorable impression of your company. Frame the process for them, right from the start – what will happen, who will be involved, the timing, etc. Communicate any deviations along the way. And make sure the process segues smoothly into onboarding, so your new hire feels welcome and can settle in quickly.
A streamlined process and timely decision-making are fundamental to a great experience, but so is taking the time to contact candidates who interviewed but did not get the job. They will be disappointed, but they will appreciate your thoughtfulness, especially if you provide constructive feedback about why you chose someone else.
At Power-4, we call this building mind share. Strategic recruiters know that the relationship doesn’t necessarily end with a non-hire decision, because who knows? The runner-up may be exactly right to fill a future opening. Their great experience this time will help you sell them on that new opportunity. Non-hires who had a great experience are also excellent sources of referrals.
Get the Power of Power-4
Successful recruiting drives business success, so it is critical to commit to your hiring process. If you’re ready to prioritize a strategic hiring that sells your unique value proposition and delivers a memorable candidate experience, give us a call.